BP p.l.c.

BP p.l.c. (BPAQF) reported FY 2025 results with sales and other operating revenues of $189.34B, flat YoY from $189.19B in 2024. Profit for the year was $1.29B, up from $1.23B, with profit attributable to bp shareholders at $55.0M versus $381M YoY. RC profit before interest and taxation reached $12.64B, up from $11.30B, driven by total revenues and other income of $192.55B. Key drivers included strong upstream plant reliability at 96.1% (record high, up from 95.2%) and refining availability at 96.3% (up from 94.3%). Operating cash flow was $24.49B, down from $27.30B, with net debt at $22.18B (2024 $23.00B). Upstream production averaged 2.31mmboe/d, slightly down from 2.36mmboe/d. The company advanced its reset strategy, achieving $2.8B cumulative structural cost reductions since 2023 toward $5.5-6.5B target by 2027. ROACE was 13.9%, targeting >16% by 2027. Forward-looking, 2026 capex guidance is $13.0-13.5B, with upstream production broadly flat underlying. These results underscore disciplined execution amid volatile markets, positioning BP for cash flow growth and balance sheet strengthening.

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